CBI responds to latest SME finance monitor

The CBI responded to the release of the SME Finance Monitor report for Q3 2012.

Emma Roberts, CBI Head of Enterprise said:

“These latest figures confirm that new finance applications are less likely to be successful than renewals, reflecting the low risk appetite amongst finance providers.

“But it is encouraging that 23% of firms said they would have been more likely to apply for finance if they had known about the National Loan Guarantees scheme. This suggests that the new Business Bank could really help inform SMEs of the financial support available, bringing all the Government funding schemes under one roof.”